Klöckner & Co., a German manufacturer and distributor of steel and non -ferrous metals, announced the sale of seven distribution sites located in the United States and controlled by Kloeckner Metals Corporation, Russel Metals became the American manufacturer. The objects are located in Austin and Houston (Texas), Charlotte (North Carolina), Dubuk (Iowa), Jacksonville and Pompano Beach (Florida) and Suvani near Atlanta (Georgia). Within the framework of a separate transaction, one additional distribution station in AMARILLO, Texas, will be sold to a service steel warehouse.
Klöckner is focused on services with added
Gvido Kerkhoff, General Director Klöckner & Co.,, General Director of Klöckner & Co. He emphasized that these sales are “decisive milestones in the consistent implementation of our strategy”. He emphasized that the company seeks to focus on the processing and production services, while reducing the dependence on the cyclic distribution of goods.
This step is consistent with the strategic program of Klöckner & Co: Levering Strengs - STEP UP 2030, which is priority:
- Growth in the business of service centers
- Expanding solutions for processing and production
- Sustainable, profitable operations in North America and Europe
The financial consequences of alienation
redistributing capital from distribution, redistributing. Klöckner & Co can strengthen its portfolio with a higher cost, according to the company's press release.
